Novell, Inc.(NOVL) is in an downtrend but momentum is showing some life

(29-Jan-2008) (29-Jan-2008) Novell, Inc.(NOVL) closed at 6.36, up 0.33 or 5.47 % for the day. Based on our analysis, Novell, Inc.(NOVL) is in an downtrend but momentum is showing some life.

The closing price of Novell, Inc.(NOVL) is below its 50 day moving average of 6.66 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Novell, Inc.(NOVL) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line today, let us see if it sustains.